Latham Advises The Sterling Group in Acquisition of Majority Ownership Stake in Precision Concepts International, LLC From ONCAP

The Sterling Group (Sterling), a Houston-based middle market private equity firm, has announced that it has entered into a definitive agreement to acquire Precision Concepts International, LLC (PCI), a leading provider of specialty rigid packaging solutions, from ONCAP, the lower mid-market private equity platform of Onex Corporation (TSX: ONEX). Sterling will partner with existing PCI investors, including ONCAP and management, to support PCI’s continued growth.

Latham & Watkins LLP represents Sterling in the transaction with a corporate team led by Houston partners Bruce Herzog and Nick Dhesi, with associates Brad Guest, Morgen Seim, Zach Lippman, and Brock Jones. Advice was also provided on antitrust and FDI matters by Washington, D.C. partners Jason Cruise and Patrick English; on benefits and compensation matters by New York partner Bradd Williamson, Chicago counsel Leah Segall, with associate Mary Daniel Morgan; and on tax matters by Bay Area partner Katharine Moir, with associate Jake Meninga.